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Marine Insurance

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Your cargo is exposed to a wide range of risks whilst in transit. Accidents, damage by water or fire, improper stowage by the carrier, and theft or pilferage are all potential risks to your cargo. Our Marine Insurance policy offers complete insurance coverage for your goods while in transit.

What is covered?

Marine Insurance covers you against perils faced in

  • Marine cargo (ICC)
  • Inland transit (ITC)
  • Air cargo (ICC Air).

The broadest form of coverage is “ALL-RISK”.  An “ALL-RISK” policy insures approved general merchandise in the event of physical loss or damage from any external cause.  This includes new, packaged goods without unusual susceptibility to loss from breakage, pilferage, or the nature of the goods themselves.  “ALL-RISK” policies almost cover all losses possible in the course of an international shipment.

What’s required to get insured?

  • Duly completed Marine Questioner Form
  • KYC form to be duly completed
  • Bank details like Letter of Credit (LC)/ Invoice/ Bill of Lading / Proforma Invoice

What’s required for claim?

  • Duly completed Claim Form.
  • Receipt given to Carrier during taking delivery with remarks if the delivery was taken in doubtful condition/Weight examination done certificate while taking delivery of packages which are outwardly sound but deficient in weight as compared with the booked weight.
  • Notice given to Carrier or Bailees within 3 days of delivery if the loss was not apparent at the time of delivery.
  • Copies of Notices of Claim against the Carrier & other parties regarding their liability together with the relative Postal Registration Receipts and receipted A/D Cards and copies of all subsequent correspondence exchanged with them, if any.
  • Original copy of Damage/Shortage/Non Delivery Certificate from the concerned Carrier.
  • Signed copies of Final Invoice & Packing List/Weight Note.
  • Certificate of Origin.
  • Copy of Bill of Lading /Consignment Note/Railway Receipt/Airway Bill other contract of carriage with remarks on condition of goods at the time of delivery.
  • Custom Transit Declaration of Seaport with detailed endorsements (if any).
  • Landing Account and Weight Note, Remark Lists at final destination/ Landing condition certificate issued by Calcutta Port Trusts. (as applicable)
  • Bhansar Pragyapan Patra.
  • Details of invoice amount payment.
  • Original Policy.
  • Claim Bill along with the pre dispatched Survey Report. (As applicable)
  • Letter of Subrogation and Power of Attorney must be obtained from insured to maintain recovery rights. (As applicable)
  • Any additional documents and information that may be required during the investigation by Insurer or Surveyor.
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